Category: Updates

THURSDAY REPORT 11/10/2016

Thu, 10 Nov 2016

  Things are looking rather poor at the moment for metal miners as the bearish scenario gains momentum. However, this scenario won’t be confirmed in miners until prices break below the neckline in GDX and the HUI. Then prices need to remain below the neckline during any bounce/rally for roughly 10-trading days. The senior mining […]

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POSSIBLE TRADE SETUP

Wed, 9 Nov 2016

  I might buy a little DUST if prices manage close above the trendline. Buying right now would require a stop below today’s low of $31.50 and that equates to a 20% risk; too high for me without a breakout. IF GDX drops to the bearish scenario target of $15.00-$16.00 (just a possibility right now […]

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GDX HEAD-AND-SHOULDER TOP UPDATE

Wed, 9 Nov 2016

  THE BEARISH HEAD-AND-SHOULDER TOP IN MINERS I think we can safely say we have our line in the sand. If prices drop below $23.43, they will likely break beneath the $22.50 neckline and continue to around $20.00 before bouncing. IF the bounce is unable to retake the $22.50 level (neckline), prices will drop to […]

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MEMBER UPDATE

Wed, 9 Nov 2016

  Trading is still dangerous until gold takes out $1,337-$1,348 and therefore invalidating the correlation pattern between the 2000 chart and now. Miners are going to gap up sharply this morning, and I would consider waiting for better prices or a pullback to enter positions. I don’t see this as a time to be fully […]

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ELECTION UPDATE

Tue, 8 Nov 2016

  Early polling shows key victories for Trump in Florida, Ohio, and North Carolina. With close races in Virgina and Pennsylvania. Wisconsin has unexpectedly turned Republican, and Michigan slightly favors Trump. These numbers give Trump a significant lead. Gold traded down to $1,267 and is now rallying sharply (currently $1,328), it may reach $1,400 this […]

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